TONGRENTANGCM (Hong Kong Stock Exchange: 03613) 2021 performance bucks the trend and rises Net profit reached HK$651 million, overseas business revenue increased by 30.6%
HONG KONG SAR
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April 19, 2022 09:00 AM Eastern Daylight Time
HONG KONG SAR - Media OutReach - 19 April 2022 - Traditional Chinese medicine has played an important role in the prevention and control of the epidemic in recent years. In addition, the national policy has vigorously promoted the development of the industrial chain. Tongrentang, which has a brand history of more than 300 years, is actively seizing development opportunities. TONGRENTANGCM (03613), which is rooted in the Hong Kong market, revealed in its recently announced 2021 annual results announcement that its net profit reached HK$651 million, with its overseas market business revenue growing at a rapid rate of 30.6% against the trend. Both local and overseas business revenue in Hong Kong maintained high growth under the epidemic, demonstrating a stable business strategy and strong overseas development potential.
The performance bucked the market and rose
Strong internal and external operations
The overall revenue of TONGRENTANGCM in 2021 was HK$1.556 billion, an increase of 18.3% over the same period last year, and its annual net profit reached HK$651 million, a year-on-year increase of 14.7%, of which the net profit attributable to shareholders of the listed company was HK$607 million, a year-on-year increase of 12.1%. The performance of the Hong Kong market maintained a steady growth rate, with a total revenue of HK$688 million, an increase of 26% over the previous year. The business in the overseas market achieved rapid growth, up 30.6% despite the raging global epidemic, fully demonstrating the capabilities of TONGRENTANGCM in the face of difficulties. It also reflects the potential of the Chinese medicine market overseas and in the future.
Turning Crisis into Opportunity
Innovating the TCM Services for International Markets
Riding on the state's policies on traditional Chinese medicine business, TONGRENTANGCM seized the development opportunities, turned the crisis into an opportunity under the influence of the global epidemic, and actively explored the new ways in which traditional Chinese medicine can serve the world. Specialized in the prevention and control of the COVID19 epidemic, Tongrentang prescribed various TCM treatment programs and products for the prevention and control of the epidemic, successfully establishing a good brand reputation and image for overseas potential customers. In 2021, TONGRENTANGCM has won a number of international awards, including the 2021 Chinese Medicine Industrial Award issued by Chinese Medicine Industry Council of Australia Ltd., and the 2021 Most Influential Brand in Asia : Traditional Chinese Medicine Most Trustworthy Brand by Influential Brands, etc. Many international honors have certified the credibility and accreditation of Tongrentang's traditional Chinese medicine business overseas, which greatly enhances the confidence of foreign consumers in the brand.
Fulfill social corporate responsibility
Continue to contribute to epidemic prevention
TONGRENTANGCM has always adhered to the corporate spirit of "Nurturing kindness and virtue, Preserving tranquility and wellness”", and have made various contributions to the society before and during the epidemic in Hong Kong. On March 2 this year, 100,000 boxes of Huoxiang Zhengqi Pian (lophanthus antifebrile tablet) worth nearly 6 million Hong Kong dollars were donated to the Hong Kong Special Administrative Region, and successively TONGRENTANGCMalso donated a total value of nearly HK$700,000 of epidemic prevention and control materials, including COVID-19 Antigen Rapid Test kits, N95 anti-epidemic masks, Tongrentang traditional Chinese medicine, health drugs and food to various social welfare organizations, including Hong Kong's century-old charity organization Sik Sik Yuen, Self Help Group For the Brand Damaged, Neuro United, The Hong Kong Stroke Association, providing the social groups and the general public with the much needed anti-epidemic and health care assistance.
Tongrentang donated 100,000 boxes of lophanthus antifebrile tablets worth nearly HK$6 million to the Hong Kong Special Administrative Region.
Meanwhile, TONGRENTANGCM also took the initiative to offer purchase discounts on anti-epidemic products to many Chinese institutions and launched a special package of Ganoderma lucidum spore powder capsules to provide the public with more choices of anti-epidemic products. Currently, it is also planning to donate Antigen Rapid Test kits for COVID-19 to many nursing homes in Hong Kong, so that the elderly with limited mobility can also conduct self-testing, and further checking the epidemic situation in Hong Kong.
Website︰https://cm.tongrentang.com/
This press release is issued by Beijing Tongrentang Chinese Medicine Co., Ltd.
Contact Details
Beijing Tongrentang Chinese Medicine Co., Ltd.
